Eureka weekly sentinel. [volume] (Eureka, Nev.) 1887-1902, 1887-12-24
SENATOR sTEwART's SILVER
BILL.

Senator Stewart OF Nevada makes an
early appearance in the Senate on the
silver question. He has introduced a
silver bill and also made q silver speech.
There is nothing new in his speech. The
same arguments have been advanced
again and again in recent years. The
wires tell us that his speech was entirely
extemporaneous. That much was new
for A Pacific Coast Senator. They usu-
ally prepare manuscript speeches and
read them off like a schoolboy deliver
ing himself Of a composition. Stewart
smoke without notes, and, the telegraph
tells US, he was congratulated by a num-.
Der of the old Senators at the finish.
The speech is a short one, making but
little over a column OF the San Francisco
dailies. His silver bill furnished the
basis for it. The bill itself provides for
the issuance Of coin certificates to circu-
late as money. Following are the lead.
ing features of the measure:
1t provides that any person may de.
post at any mint or assay office OF the
United States both gold and silver bull.
ion in quantities not less than five
ounces OF gold or eighty ounces OF sill.
yer, and demand and receive therefor
coin certificates representing one dollar
for twenty-five and eight.tenths grains
of gold, and one dollar for four hundred
and twelve and one-half grains of silver,
provided that the gold and silver bullion
so deposited shall contain by weight in
1000 parts 900 parts OF pure metal. The
Secretary of the Treasury is directed to
prepare certificates and furnish the same
to the various minis and assay offices OF
the United States to be exchanged for
gold and silver bullion. 1t is provided
that no certificates shall be issued of
less denomination than 81, nor greater
than 81, 000, redeemable at any sub
Treasury in gold or silver bullion at
the option of the Government. The
bullion so received shall be melted into
bars, provided 20 per cent thereof shall
be melted into bars of not less than 500
ounces weight. The coin certificates is
sued under the Act shall be legal tender
at their nominal value for all dues public
and private. except where otherwise
stipulated in contracts already made.
No gold or silver certificates shall be is
sued after the passage of the Act, and
when received shall be cancelled. Sec
ton 9 provides that ''no gold shall here.
after be coined except what may be nee.
essary in the payment Of the obligations |
of the United States expressly made
payable in coin; and no more silver shall
be coined than is necessary to use in the
payment of the obligations Of the United
States, expressly made payable in coin,
and for actual circulation among the
people. The Secretary Of the Treasury
shall have power to regulate the amount
OF coinage authorized by this section.
There is to be no charge for assaying or
refining bullion under this Act, and the
law of 1878, authorizing the coinage of
standard silver dollars, which conflicts
with this Act, is repealed"
We say to Senator Stewart frankly |
that this bill will not suit the people OF
Nevada. 1t is a proposed tinkering with
the coinage laws that will not receive
the approval OF the friends of silver
anywhere, The Senator will make a
mistake if he presses it. We want more
coinage, not less. We do not deny that
silver certificates predicated on silver
bars would be precisely as good as sill.
yer certificates issued against coined dol.
lars in the Treasury. Intrinsically there
could be no difference. That is not the
objection. The whole power of the
East has been exerted to secure the sus-
pension of the coinage of the standard
dollar. To crafty that desire in any
manner is to yield a point by the silver
men. We are opposed to giving an inch
on the subject. The position of the sill
yer men should be an aggressive one,
c%ontending at every point for free and
unlimited coinage. Senator Stewart
should veer round and train his orator..
cal guns in the direction indicated. This
certificate business on bars is not the
for silver ills. Keep the mints
open and coin the entire product of the
is the better plan.
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